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Should monetary policy be controlled by an independent central bank?
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Selected thesis
Monetary policy should be controlled by an independent central bank.
Pros
Cons
Pro claim 1
Independent central banks are best placed to understand the complexities of monetary policy.
Pro claim 2
Independent central banks are best placed to take a long-term view of monetary policy.
Con claim 1
The monetary policies set by central banks can clash with the policies put in place by democratic governments.
Con claim 2
Central banks can lack transparency and accountability.